PROBATE

Dealing with the affairs of someone who had died is often a daunting and stressful task at what is clearly a difficult time.

We can help with this process, from preparing the papers required to obtain the Grant of Probate where necessary, to completing the administration of the estate and settling any taxation or other issues which may apply – your case will be dealt with sensitively and efficiently throughout and will not take any longer than is absolutely necessary. Each case will of course vary according to circumstances.

There are three types of service we offer in Probate matters:

Probate Service No. 1

1. This service is limited to obtaining the Grant of Probate only, leaving the client to administer the estate. This service is available in cases where the estate is exempt from Inheritance Tax and no account valuation papers are required by H. M. Revenue & Customs. The KEY STAGES involved in such a case as this can be summarised as follows:

(1) Taking instructions, ascertaining the assets, liabilities and beneficiaries of the estate including full details of the deceased’s Personal Representatives.

(2) Making an application online for the Grant of Probate (if there is a will) or Grant of Administration (if there is no will). This includes the preparation of a Legal Statement of Truth which the personal representatives (or Selby & Co on their behalf) must sign prior to the application being made.

(3) Sending the will (if there is one) and a summary of the online application details to the Probate Registry and paying the required Probate Registry fee.

2. In straightforward cases we are able to make the required Probate application within seven days of taking instructions and would expect to receive the Grant of Probate within six to eight weeks of submitting the online application.

3. We charge a fixed fee for this service of £2250.00 plus VAT @ 20% (£450.00), total fee £2700.00

Probate Service No. 2

This service includes or Probate Service No. 1 but in addition includes dealing with the Administration of the estate and is available in cases where the estate is exempt from Inheritance Tax and no account valuation papers are required by H. M. Revenue & Customs. The KEY STAGES involved in a typical case such as this can be summarised as follows:

(1) to (3) as in Probate Service No. 1.

(4) Collecting in the assets of the estate and if necessary arranging for the sale and cash realization of estate assets.

(5) Arranging for the liabilities of the estate to be paid.

(6) Settling any Income Tax and Capital Gains Tax issues with H.M. Revenue and Customs.

(7) Arranging for Notices to be published in the London Gazette and local newspaper if necessary to protect against unexpected claims from unknown creditors.

(8) Preparing detailed Estate Accounts showing the assets and liabilities of the estate and distribution to beneficiaries.

(9) Distributing the net estate to the beneficiaries according to the terms of the will or Statutory Rules of Intestacy if there is no will.

(10) Doing whatever else is necessary to ensure the proper finalization of the estate administration.

2. In straightforward cases we are able to make the required Probate application within seven days of taking instructions and would expect to receive the Grant of Probate within six to eight weeks of submitting the online application. The time it takes to complete the administration work does of course vary according to the circumstances and complexity of each individual case. It is however usual for us to complete such work within six months from the date of our initial instructions. We will let you know if there are any circumstances which are likely to extend or shorten this period.

3. We charge a fixed fee for this service of 1.5% of the net estate value plus VAT @ 20% subject to a minimum fee of £2250.00 + VAT @ 20% (£450.00), total minimum fee £2700. As an example if the net estate value was £200,000 our fee for Probate service No. 2 would be £3000.00 + VAT @ 20% (£600.00), total fee £3600.00

Probate Service No. 3

1. This service is available in cases where the estate is not exempt from Inheritance Tax and account valuation papers are required by H. M. Revenue & Customs before the Grant of Probate can be obtained. In such cases Inheritance Tax will also be payable where the estate is also a taxable estate. The KEY STAGES involved in a typical case such as this can be summarised as follows:

(1) to (10) as in Probate Service No. 2.

(11) Preparing all account valuation papers required by H. M. Revenue & Customs, calculating any Inheritance Tax payable and arranging for fees to be paid prior to the Grant of Probate application.

2. As in our Probate service No. 2 the time it takes to complete the administration work does vary according to the circumstances and complexity of each individual case. It is however usual for us to complete Probate service No. 3 cases between six to nine months from the date of our initial instructions. We will let you know if there are any circumstances which are likely to extend or shorten this period.

3. We charge a fixed fee for this service of between 1.75% and 2.5% of the net estate value plus VAT @ 20% depending on the complexity of the case. As soon as the assets liabilities and beneficiaries of the estate are known in detail we can give an accurate fee quotation.

Our fees for all Probate work are set out in the Fees section of this website.

CONTACT

For more help or information please get in touch.